Mizuho Securities USA LLC Has $7.67 Million Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Mizuho Securities USA LLC raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 762.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,520 shares of the information technology services provider's stock after buying an additional 34,054 shares during the quarter. Mizuho Securities USA LLC owned 0.07% of EPAM Systems worth $7,667,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Metis Global Partners LLC grew its holdings in EPAM Systems by 2.5% during the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider's stock valued at $404,000 after purchasing an additional 50 shares during the last quarter. Retirement Systems of Alabama increased its position in EPAM Systems by 0.4% in the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider's stock worth $2,406,000 after purchasing an additional 52 shares during the period. Motley Fool Asset Management LLC increased its position in EPAM Systems by 5.2% in the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider's stock worth $310,000 after purchasing an additional 56 shares during the period. Taylor Frigon Capital Management LLC grew its position in shares of EPAM Systems by 0.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider's stock worth $2,321,000 after buying an additional 56 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of EPAM Systems by 1.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider's stock valued at $1,089,000 after purchasing an additional 63 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

Shares of EPAM Systems stock traded down $9.57 on Friday, reaching $235.29. 851,851 shares of the stock were exchanged, compared to its average volume of 628,540. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $203.19 and a two-hundred day moving average price of $198.10. The firm has a market capitalization of $13.35 billion, a PE ratio of 30.56, a PEG ratio of 3.60 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has authorized a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares of the company's stock, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on EPAM. Needham & Company LLC boosted their target price on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com upgraded EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday. Itau BBA Securities raised EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 target price for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, Citigroup lifted their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and an average target price of $264.20.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.